Benefit Plans

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Benefit Plans

Benefit Plans

We have a non-contributory defined benefit pension plan, as well as a supplemental executive retirement plan that covered eligible employees through December 31, 2022. Effective January 1, 2023, these plans were frozen (no future benefits will be accrued for participants due to employment and no new participants will be added). Participants in these plans were fully vested in their benefits as of December 31, 2022.

Table 10.1 provides the components of net periodic benefit cost for our pension, supplemental executive retirement and other postretirement benefit plans for the three months ended March 31, 2025 and 2024.

Components of net periodic benefit cost
Table	10.1
		Three Months Ended March 31,
		Pension and Supplemental Executive Retirement Plans				Other Postretirement Benefit Plans
(In thousands)		2025		2024		2025		2024
Company service cost		$	—	$	—	$	234	$	417
Interest cost		3,299		3,247		311		375
Expected return on plan assets		(3,442)		(3,644)		(2,911)		(2,494)
Amortization of:
Net actuarial losses (gains)		546		523		(692)		(380)
Prior service cost (credit)		86		86		118		453
Cost of settlements and curtailments		—		—		—		—
Net periodic benefit cost (benefit)		$	489	$	212	$	(2,940)	$	(1,629)

In the first quarter of 2025, we made a contribution to our qualified pension plan of $7.5 million.